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Abstract

Details

Quality in Ageing and Older Adults, vol. 12 no. 3
Type: Research Article
ISSN: 1471-7794

Open Access
Article
Publication date: 31 January 2022

Sunay Çıralı

The main purpose of the research is to determine if the relationship between trading volume and price changes is connected to market effectiveness and to use the…

Abstract

Purpose

The main purpose of the research is to determine if the relationship between trading volume and price changes is connected to market effectiveness and to use the volume-price relationship to compare the efficiency levels of foreign markets. The degree of the relationship is determined in this study, and the efficiency levels of different countries' capital markets are compared.

Design/methodology/approach

In this study, 1,024 observations are used as a data set, which includes daily closing prices and trading volume in the stock market indices of 25 countries between the dates of 01.12.2016 and 31.12.2020. In the first step of the analysis, descriptive statistics of price and volume series are examined. The stationarity of the series is then controlled using the ADF unit root test. Simple linear regression models with the dependent variable of trading volume are generated for all stock market indices after each series has reached stationarity, and the ARCH heteroscedasticity test is used to determine whether these models contain the ARCH effect. Because all models have the ARCH effect, autoregressive models are chosen, and EGARCH models are conducted for all indices to see whether there is an asymmetry in the price-volume relationship.

Findings

The study concludes that the stock market in the United States is the most effective, since it has the strongest relationship between trading volume and price changes. However, because of the financial distress caused by the COVID-19 pandemic, the relationship between price and trading volume is lower in Eurozone countries. The price-volume relationship could not be observed in some shallow markets. Furthermore, whereas the majority of countries have a negative relationship between price changes and transaction volume, China, the United Arab Emirates and Qatar have a positive relationship. When prices rise in these countries, investors buy with the sense of hope provided by the optimistic atmosphere, and when prices fall, they sell with the fear of losing money.

Research limitations/implications

The study's most significant limitation is that it is difficult to ascertain a definitive conclusion about the subject under investigation. In reality, if the same research is done using data from different countries and time periods, the results are quite likely to vary.

Practical implications

As a result of the study, investors can decide which market to enter by comparing and analyzing the price-volume relationship of several markets. According to the study's findings, investors are advised to examine the price-volume relationship in a market before beginning to trade in that market. In this way, investors can understand the market's efficiency and whether it is overpriced.

Social implications

The relationship between price movements and trade volume gives crucial information about a capital market's internal structure. Some concerns can be answered by assessing this relationship, such as whether the market has a speculative pricing problem, how information flows to the market, and whether investment decisions are rational and homogenous. Empirical studies on modeling this relationship, on the other hand, have not reached a definite outcome. The main reason for this is that the price-to-volume relationship fluctuates depending on the market structure. The purpose of this study is to fill a gap in the literature by presenting the reasons why this critical issue in the literature cannot be answered, as well as empirical findings.

Originality/value

The significance and originality of this research are that it examines the price-volume relationship to evaluate the efficiency levels of various markets. This relationship is being investigated in a number of multinational studies. These researches, on the other hand, were conducted to see if there is a relationship between trading volume and market volatility, and if so, how that interaction is formed. The size of the price and volume relationship is emphasized in this study, unlike previous studies in the literature.

Details

Journal of Capital Markets Studies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2514-4774

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Article
Publication date: 25 January 2022

Augustine Donkor, Hadrian Geri Djajadikerta, Saiyidi Mat Roni and Terri Trireksani

This study aims to examine the relationship between integrated reporting (IR) quality and corporate tax avoidance (CTA). IR is an emerging reporting mechanism, while CTA…

Abstract

Purpose

This study aims to examine the relationship between integrated reporting (IR) quality and corporate tax avoidance (CTA). IR is an emerging reporting mechanism, while CTA practices are considered a hindrance to inclusive and sustainable growth. The study also assesses the moderating role of firm complexity on the IR-CTA relationship. Additionally, this study also envisages that CTA practices are not static. Hence, it also analyses the IR-CTA relationship across different intensity levels of CTA practices. The study focusses on listed companies in South Africa, the only country that has mandated IR practice so far.

Design/methodology/approach

Ordinary least square and quantile regressions are used to analyse archival and content analysis data for firms listed on the Johannesburg Stock Exchange from 2011 to 2017.

Findings

This study finds that IR quality negatively associates firms CTA practices. It further concludes that although firms’ transparency level increases due to IR quality, firm complexity reduces the significant negative relationship between IR and CTA practices. The findings also indicate that the IR-CTA relationship is not constant but instead differs across the CTA quantiles. At aggressive levels of CTA, no relationship is established between IR quality and firms’ CTA practices.

Practical implications

The findings provide a useful and more detailed description of the relationship between information quality and CTA practice, focussing on IR, an emerging reporting mechanism that is considered innovative and transparent.

Social implications

Considering the IR-CTA relationship found in this study, IR quality implementation may indirectly contribute to attaining sustainable development goals by reducing CTA practices.

Originality/value

This study examines the relationship between reporting quality and firms’ CTA practices from the perspectives of an emerging reporting mechanism, with a focus on South Africa, the only country that has mandated IR practice. Furthermore, the distributional mean effects of IR quality on firms’ CTA practices explored in this study extend beyond the usual IR-CTA relationship.

Details

Sustainability Accounting, Management and Policy Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8021

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Article
Publication date: 19 January 2022

Gul Afshan, Carolina Serrano-Archimi and Zubair Akram

The paper examines the effect of relative leader-member exchange (LMX) on follower's in-role performance, citizenship behaviour and cynicism via relational identification…

Abstract

Purpose

The paper examines the effect of relative leader-member exchange (LMX) on follower's in-role performance, citizenship behaviour and cynicism via relational identification. Moreover, LMXSC (LMXSC) moderates the direct and mediating relationship.

Design/methodology/approach

Based on multi-level (individual and group level) model, dyadic data were collected from 298 employees working under 47 group managers in the banking sector in Pakistan.

Findings

The multi-level moderated mediation model tested in Mplus and HLM software showed the full support for direct, mediating and moderating hypothesized relationships; however, the moderated mediation hypothesis was partially supported. It reveals that relative LMX standing of followers predicted in-role performance, organizational citizenship behaviour at an individual level (OCB-individual) and cynicism. Relational identification with the leader mediated the relationship. Moreover, at high LMXSC, the relationship between relative LMX and relational identification and consequently the outcomes were stronger.

Originality/value

LMX has widely been studied at dyadic level, despite the suggested high and low LMX quality relationships that exist in a workgroup. This study not only investigates the role of relative LMX on employee performance through relational identification but also reports that subjective evaluation of LMXSC plays a major role in promoting employee performance.

Details

Leadership & Organization Development Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0143-7739

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Article
Publication date: 11 January 2022

Audra Diers-Lawson and Lorraine Collins

The central aim of this research is to deepen the analysis of the influence that crises have on employee relations by using the stakeholder relationship management model…

Abstract

Purpose

The central aim of this research is to deepen the analysis of the influence that crises have on employee relations by using the stakeholder relationship management model (SRM) to analyze organizational employee relationship management (OERM).

Design/methodology/approach

This study uses a questionnaire distributed in two organizations (UK-based public sector and private sector) that were experiencing a crisis at the time of data collection. Respondents identified whether they believed the organization was in crisis, if they defined it as in crisis classified what type of crisis it was, and then responded to questions about their relationship to the organization, the organization's post crisis stability and their own behavioral intentions.

Findings

The findings verify the applicability of the SRM in employee relations with three critical findings: (1) employees with higher income in the private sector were significantly less likely to believe their organization was in crisis; (2) the more ambiguous the blame for the crisis, the greater the damage on the relationship between organizations and employees; and (3) collective sensemaking in organizations is essential, but less likely when a crisis has damaged the relationship between employees and organizations.

Originality/value

In the last 40 years of Employee Relations, the role of crisis in influencing OERM has not been meaningfully explored in the journal. Therefore, the piece makes an original contribution.

Details

Employee Relations: The International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0142-5455

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Book part
Publication date: 1 November 2008

Thomas Ritter and Achim Walter

Managers and academics alike focus on value creation in business relationships. This paper adds to existing literature by analyzing functions of business relationships and…

Abstract

Managers and academics alike focus on value creation in business relationships. This paper adds to existing literature by analyzing functions of business relationships and their impact on value perception. Applying a customer perspective, direct relationship functions are concerned about payment, quality, and volume. Indirect functions include innovation, access, and scouting. Furthermore, trust and number of alternative suppliers are included in the study. The empirical results illustrate the important role of direct and indirect functions for value creation. Understanding these functions is instrumental for driving customer value, both for the supplier and the seller. Direct functions do have a much stronger impact on value than indirect functions that still do have a significant impact. Thus, increasing direct function fulfillment is much more effective in order to gain key supplier status than relying only on indirect functions. But indirect functions may offer ample differentiation opportunities. Being a strong driver of relationship value, trust is also driven by function fulfillment. Thus, relationship value depends on rational elements (functions) and social elements (trust). Availability of alternative suppliers increases the importance of relationship function fulfillment on customer value and customer trust. In highly competitive markets, suppliers need clear understanding and communication of relationship value in order to succeed.

Details

Creating and managing superior customer value
Type: Book
ISBN: 978-1-84855-173-2

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Article
Publication date: 14 January 2022

Mary-Ann Mallet, Kwame Owusu Kwateng and Dorcas Nuertey

This study aims to assess the effect of supplier–buyer association on supply chain sustainability using the pharmaceutical industry in Ghana as a case study.

Abstract

Purpose

This study aims to assess the effect of supplier–buyer association on supply chain sustainability using the pharmaceutical industry in Ghana as a case study.

Design/methodology/approach

The study used a quantitative research approach. The study design was a cross-sectional survey design. The unit of analysis for the study was top-level managers of pharmaceutical companies in Ghana. By the use of the purposive and convenience sampling techniques, 90 respondents from pharmaceutical firms in Ghana were included. The study used descriptive statistics, t-test and regression tools in the data analysis.

Findings

It was discovered that trust mediates positively the relationship between supplier–buyer relationship and supply chain sustainability. Moreover, the study found that supplier–buyer relationship (SBR) has a significant and positive impact on supply chain sustainability.

Practical implications

The study concluded that SBR is the foundation upon which effective supply chain and supply chain sustainability are established.

Originality/value

This paper provides researchers with a contemporary perspective toward understanding the relationship between SBR and supply chain sustainability and the mediating role of trust.

Details

International Journal of Pharmaceutical and Healthcare Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1750-6123

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Article
Publication date: 11 January 2022

Steven Pattinson, James Cunningham, David Preece and Mark A. P. Davies

This paper identifies exigent factors that enable and constrain trust building in a science-based innovation ecosystem.

Abstract

Purpose

This paper identifies exigent factors that enable and constrain trust building in a science-based innovation ecosystem.

Design/methodology/approach

Set in the Northeast England, this study adopts a processual sensemaking approach to thematically analyse interviews with a diverse range of participants in six science-based SMEs.

Findings

The findings provide a unique exposition of trust building in an innovation ecosystem across geographic and platform relationships. In doing so, the findings highlight factors outside of contractual agreements that enable or constrain trust building in an innovation ecosystem.

Research limitations/implications

Limitations centred on subjectivity in the use of thematic analysis, sample bias and size. Sampling limitations were mitigated through the research design and analysis.

Practical implications

The findings provide unique insights into understanding the exigent factors that enable or constrain trust building in a science-based innovation ecosystem.

Originality/value

The study identifies five exigent factors that constrain or enable trust building in science-based SMEs' innovation ecosystem at a micro-level – building network relationships, degree of novelty, protection of innovations, propensity for adding value, propensity for risk.

Details

Journal of Small Business and Enterprise Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1462-6004

Keywords

Open Access
Article
Publication date: 13 January 2022

Andrea Patrucco, Christine Mary Harland, Davide Luzzini and Federico Frattini

Suppliers are essential partners in innovation projects, as they own resources, knowledge assets and capabilities that complement those of buying firms. In today’s…

Abstract

Purpose

Suppliers are essential partners in innovation projects, as they own resources, knowledge assets and capabilities that complement those of buying firms. In today’s competitive environment, firms may choose to collaborate with suppliers beyond dyads, forming triadic or three-party relationships. Using the theoretical lens of the relational view (RV), this study aims to explore what type of triad configurations firms use to govern supplier relationships in collaborative innovation projects, how they choose to share resources and implications for project performance.

Design/methodology/approach

The authors use interview data from buyers and suppliers in six case studies of firms involved in ten collaborative innovation projects. The four constructs of the RV are used to observe how firms govern triadic relationships, combine complementary resources, invest in relationship-specific assets and manage information and knowledge exchange with and between suppliers in innovation projects.

Findings

Four archetypes of triadic relationships in innovation projects – labeled Triangle, A-frame, D-Frame and Line – are presented and characterized in terms of their structural and relational features. The authors discuss how each triad archetype is applicable to different innovation projects according to specific project characteristics.

Originality/value

This study is pioneering in its empirical examination of triadic relationships in collaborative innovation projects. It provides a novel typology of four archetypes of triad from the perspective of collaborative relationships with suppliers. Through applying the RV, it advances understanding of how triadic relationships are governed, how they invest in relationship-specific assets, how they combine complementary resources and how they exchange knowledge and information in each type of triad appropriate to different innovation project settings. To date, much of the extant literature has focused on dyads.

Details

Supply Chain Management: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1359-8546

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Article
Publication date: 24 January 2022

Anna Vredeveld and Selcan Kara

The purpose of this study is to examine the behavioral and emotional outcomes of nostalgic brand meanings derived from brand use that occurs in the early stages of a…

Abstract

Purpose

The purpose of this study is to examine the behavioral and emotional outcomes of nostalgic brand meanings derived from brand use that occurs in the early stages of a romantic relationship.

Design/methodology/approach

This research uses survey data (n = 656) and relies on structural equation modeling to test the hypotheses.

Findings

Relationship brand nostalgia has implications for how the relationship partners use the brand together as part of celebrating special occasions, how connected the brand is to their relational identity and how upset they would be if the brand was discontinued. Additionally, interpersonal relationship characteristics (relationship satisfaction and relationship power) influence these outcomes of relationship brand nostalgia.

Research limitations/implications

The findings from this research show that it is important to account for real (experienced) brand nostalgia when considering behavioral and emotional implications of nostalgia in consumer–brand relationships. Specifically, brand use as part of early romantic relationship milestones influences the creation of nostalgic brand meanings, which in turn influence shared brand use, relational brand connections and brand separation distress.

Practical implications

Brand managers can increase relational brand connections and brand separation distress by encouraging shared brand use as part of romantic relationships milestones.

Originality/value

This research addresses gaps in extant research by examining the outcomes of relationship brand nostalgia, which is defined as brand nostalgia anchored in shared brand use that occurred as part of early relationship milestones.

Details

Journal of Product & Brand Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1061-0421

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